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City of San Leandro <br />Meeting Date: February 20, 2018 <br />Staff Report <br />Agenda Section:File Number:18-072 CONSENT CALENDAR <br />Agenda Number:8.H. <br />TO:City Council <br />FROM:Chris Zapata <br />City Manager <br />BY:David Baum <br />Finance Director <br />FINANCE REVIEW:David Baum <br />Finance Director <br />TITLE:Staff Report for the Mid-Year Financial Report as of December 31, 2017 <br />(Information Only) <br />SUMMARY AND RECOMMENDATIONS <br />Staff recommends that the City Council review and accept the Mid-Year Financial Report as of <br />December 31, 2017. <br />BACKGROUND <br /> <br />The Adopted Fiscal Year (FY) 2017-18 General Fund, Special Revenue Funds, and Enterprise <br />Funds Budget guides and ensures implementation of City Council policies and priorities. The <br />budget implements the vision and direction for the broad range of services that meet the needs of <br />the community in accordance with City Council policy. This financial review as of December 31, <br />2017 provides the mid-year budget update to the City Council for the current fiscal year. Analysis <br />of the revenues collected and all expenditures through December 31, 2017 measure operational <br />adherence to the established budgetary allocation plan. <br /> <br />DISCUSSION <br /> <br />The adopted budget incorporates the estimated revenues and planned expenditures for all funds. <br />The attached 2017-18 Mid-Year Financial Report as of December 31, 2017 provides revenue <br />and expenditure summaries for the General Fund, Special Revenue Funds, Enterprise Funds, <br />and Internal Service Funds. The following discussion offers comparison to the prior year and <br />focuses on variances from the revenue and expenditure plans and allocations contemplated in the <br />budgetary allocation plan. <br /> <br />General Fund <br /> <br />Page 1 City of San Leandro Printed on 2/13/2018 <br />1141